• many factors influence the price of residential land
  • the study proposed a method to determine the level of impact of factors on land prices
  • residential land prices are most affected by the COVID-19 pandemic
The study aimed to determine the influencing factors and their impact levels on residential land prices. The research investigated 241 officials, real estate investors, appraisers, and real estate brokers on factors affecting residential land prices. Research results have shown 13 groups with 45 factors affecting the price of residential land. The impact rates of the factor groups range from 1.43% to 23.65%. The COVID-19 pandemic factor group has the strongest impact on land prices, followed by other factor groups, including upgrading administrative units; formulation and implementation of the planning; real estate market; financial – economics; credit; real estate brokerage; infrastructure; location of the land parcel; particular factors; juridical factors; environment and social security. To harmonize the interests of the State, investors, and land users when valuing land, it is necessary to pay attention to the factors that strongly impact land prices first, and then the smaller ones.
The authors would like to thank the People's Committee of Tu Son city, Bac Ninh province, and functional departments in Tu Son city for their assistance in collecting data related to the study. In particular, the authors would like to thank the respondents for answering their survey. In addition, the authors wish to thank the reviewers for their valuable suggestions and comments.